Chatham Lodging Trust (NYSE:CLDT) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a strong-buy rating in a report published on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on CLDT. BMO Capital Markets reaffirmed a “market perform” rating and issued a $12.00 price target on shares of Chatham Lodging Trust in a research note on Friday, June 12th. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Weiss Ratings raised Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, Stifel Nicolaus set a $13.00 target price on shares of Chatham Lodging Trust in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Chatham Lodging Trust has an average rating of “Moderate Buy” and an average price target of $12.50.

Chatham Lodging Trust Stock Up 1.9%

CLDT traded up $0.24 on Thursday, reaching $12.85. 219,134 shares of the company traded hands, compared to its average volume of 417,050. Chatham Lodging Trust has a 52-week low of $6.08 and a 52-week high of $13.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $600.02 million, a price-to-earnings ratio of 642.70 and a beta of 1.08. The stock’s 50 day moving average price is $11.61 and its 200-day moving average price is $9.01.

Chatham Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Investors Weigh In On Chatham Lodging Trust

A number of large investors have recently added to or reduced their stakes in CLDT. Intech Investment Management LLC raised its position in shares of Chatham Lodging Trust by 9.1% in the third quarter. Intech Investment Management LLC now owns 24,296 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 2,017 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Chatham Lodging Trust by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 615,322 shares of the real estate investment trust’s stock worth $4,190,000 after buying an additional 2,496 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Chatham Lodging Trust by 8.4% during the 2nd quarter. Franklin Resources Inc. now owns 34,078 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 2,642 shares during the period. Kennedy Capital Management LLC grew its stake in Chatham Lodging Trust by 0.4% in the 4th quarter. Kennedy Capital Management LLC now owns 804,513 shares of the real estate investment trust’s stock valued at $5,479,000 after buying an additional 2,894 shares during the last quarter. Finally, Diversified Trust Co. increased its position in Chatham Lodging Trust by 18.6% in the 4th quarter. Diversified Trust Co. now owns 18,861 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 2,952 shares during the period. Institutional investors own 88.37% of the company’s stock.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.